WEEKLY: Chinese mills' steel stocks rise again

Inventories of the five major carbon steel products held by the Chinese steel mills Mysteel regularly surveys swelled again during the period of July 31-August 6, with the total volume mounting by 2.1% on week to reach 4.54 million tonnes and reversing the previous week’s 1.3% fall.

The five major steel items comprise rebar, wire rod, hot-rolled coil (HRC), cold-rolled coil (CRC) and medium plate. Contributing mainly to the higher stocks were those of rebar and wire rod, with their inventories rising by 3.2% and 10.8% on week respectively.Those of HRC, CRC and medium plate declined by varying degrees